Match each financial statement to what it shows.

Exercise and reference answers

Matching pairs

1. A

   Trading Account

   B

   Gross Profit / Loss for the period

2. A

   Profit & Loss Account

   B

   Net Profit / Loss for the period

3. A

   Balance Sheet

   B

   Financial position on a date (Assets = Liab + Capital)

4. A

   Cash Flow Statement

   B

   Inflows and outflows of cash

Instructions

Pair the statement with its content.

Explanation